Consumer confidence plummets to new low

Tuesday

Feb 24, 2009 at 12:01 AMFeb 24, 2009 at 1:00 PM

NEW YORK (AP) — Americans’ already battered confidence in the economy went into free fall in February, sinking to new lows as consumers grow more fearful over massive job cuts and shrinking retirement accounts.

The New York-based Conference Board said today that its Consumer Confidence Index, which was down slightly in January, plummeted more than 12 points in February to 25, from the revised 37.4 last month.

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